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Greece Creditors Weighing Letter Said to See Referendum as Issue

Wednesday, 01 Jul 2015 06:49 AM

(Bloomberg) -- Greece’s creditor institutions still view the Greek referendum, planned for July 5, as a potential barrier to reaching an aid accord with Prime Minister Alexis Tsipras, according to a European Union official.

Tsipras earlier sent a letter to creditors accepting the proposals from the International Monetary Fund, the European Central Bank and the European Commission as a basis for compromise to end a standoff over future financing.

The letter represents the first time the Greek authorities have accepted the creditors’ proposals as published on Sunday, a separate EU official said in a text message. The Greek government also supplied some amendments which the institutions are now analyzing, the official said. Both officials asked not to be identified because the talks are private.

Italian Prime Minister Matteo Renzi, in a speech in Berlin Wednesday, said the referendum isn’t about fiscal issues, since differences between Greece and creditors were over “small things” such as taxes. Rather, the referendum was called for political reasons and Tsipras’s decision to call it is “highly risky,” Renzi said.

To contact the reporters on this story: Corina Ruhe in Amsterdam at cruhe@bloomberg.net; Ian Wishart in Brussels at iwishart@bloomberg.net To contact the editors responsible for this story: Alan Crawford at acrawford6@bloomberg.net Richard Bravo

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